Subject: Retention Policy on Trading Tapes
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Mon, 25 Sep 2000 12:03:00 -0700 (PDT)

John:

Let me know if you are ok with the following memo which would come from you 
and me to  the traders and senior originators:

Effective October 15, 2000, the retention period on tape recordings of trades 
done by telephone will be reduced from four months to one month.  The tapes 
regarding significant transactions may be retained for such longer period as 
approved in writing by both the Head Trader and the General Counsel.  Please 
propose those significant transactions on which you may wish to retain the 
tapes, prior to October 15, 2000, since the tapes on conversations older than 
one month will be destroyed on that date.  If you have any questions, please 
contact Mark Haedicke or Richard Sanders. 

We are still looking at moving to recording only the deal terms -- but that 
is a long term project.

Mark